Ben James Smith Podcast

Today I want to talk about something that matters more than almost anything else in investing. Cycles. Because markets move. Conditions change. Confidence rises and falls. Capital flows in… and out. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit benjamessmith.substack.com

Today I want to talk about scale. Because when people hear about deploying capital across multiple development projects, the immediate assumption is: More projects… means more risk. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit benjamessmith.substack.com

Today I want to talk about something very specific within the Rise Capital model. The type of developments we target… And why we’ve made a deliberate decision to focus on smaller housing schemes — typically houses and townhouses, not apartments, and usually schemes of 20 units or fewer. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episod...

Today I want to talk about something very specific. Not governance in general. But how we’ve structured the investment and decision-making process at Rise Capital — and more importantly, why we’ve built it that way. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit benjamessmith.substack.com

Today I want to talk about something that sits right at the centre of the pre-seed opportunity. Because for many investors, the natural reaction to buying into an asset management platform at an early stage is straightforward. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit benjamessmith.substack.com

Today, I want to speak more directly than I usually do. Not about the market in general. Not about abstract capital theory. And not about property as a broad asset class. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit benjamessmith.substack.com

Up to now, we’ve spent a lot of time talking about how capital behaves, why structure matters, and what separates institutional investment platforms from individual deals. Today, I want to bring that together in a more practical way. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit benjamessmith.substack.com

Over the last series of episodes, we’ve talked about capital, structure, alignment, and how investment platforms operate at scale. Today, I want to talk about something slightly different. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit benjamessmith.substack.com

Today we’re going to talk about something that’s often avoided in investment conversations. Risk. Not in a generic sense. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit benjamessmith.substack.com

Today we’re going to talk about something that sits at the centre of every investment — but is often overlooked. How the manager makes money. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit benjamessmith.substack.com

In the last episode, we talked about how misaligned capital structures can destroy otherwise good property projects. And the key takeaway was simple: The issue is often not the asset…It’s the capital structure behind it. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit benjamessmith.substack.com

Today I want to talk about something that sits at the centre of property development — but is very rarely discussed properly. Capital structure. Not how much capital is used. But how it’s structured. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit benjamessmith.substack.com

This is going to be a slightly shorter episode. In the last episode, we talked about why now is a moment of transition — and why those periods are often where disciplined investors begin to position. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit benjamessmith.substack.com

Over the last series of episodes, we’ve talked about structure, capital, the UK property market, and how institutional investors think. Today, I want to focus on timing. Not in the sense of trying to predict markets. But in the sense of recognising when conditions align. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit benjam...

Over the last series of episodes, we’ve talked about how capital actually thinks. Why structure matters. Why governance matters. Why systems outperform individual opportunities. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit benjamessmith.substack.com

The Ben James Smith Podcast — Episode 28 — When Property Developments Go Wrong: What No One Tells You Welcome back to The Ben James Smith Podcast. This episode is one I’ve been thinking about for a while… Because there’s a side of property development that people don’t talk about… You see the glossy finishes…You see the completed schemes… But what you don’t see… is what happens when things go wron...

Today’s episode is slightly different. We’re not going to talk about markets, structures, or capital flows directly. We’re going to talk about something more personal. Because before most investors make their first allocation into a new opportunity…they go through a decision process. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes,...

Over the last few episodes, we’ve spent a lot of time talking about philosophy. How capital thinks. Why structure matters. Why platforms outperform individual deals. But today, I want to make this practical. Because ultimately, none of that matters unless it works in reality. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit b...

Over the past series of episodes, we’ve explored a number of themes. How capital thinks. Why governance matters. What drives property markets. Why structure determines outcomes. And throughout those conversations, there’s been a consistent idea. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit benjamessmith.substack.com

Over the last few episodes, we’ve explored the UK property market, the rental crisis, institutional capital flows, and why structure matters more than individual opportunities. Today, I want to bring everything together. Because there’s a fundamental shift that separates experienced investors from everyone else. At the start of their journey, most people look for deals. At scale, serious investors...

Over the last few episodes, we’ve talked about the UK rental market, the movement of institutional capital, and why controlling capital changes behaviour in property investment. Today, I want to focus on something that sits underneath all of that. Why most property developers fail when they try to scale. Because interestingly, many developers don’t fail at the start. This is a public episode. If y...

Over the past few episodes, we’ve talked about structural supply shortages, the rental market, and why institutional capital is moving into UK residential property. Today, I want to bring those ideas together. Because there is one factor that sits at the centre of all of them Capital. Not just how much capital you have. But how it is controlled. This is a public episode. If you would like to discu...

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit benjamessmith.substack.com

Today we’re going to talk about something that is dominating headlines across the UK — the rental crisis. Rents rising. Supply tightening. Tenants struggling to find homes. And most commentary focuses on the symptoms. But what’s far more important — especially from an investment perspective — is understanding the cause. This is a public episode. If you would like to discuss this with other subscri...

The Bank of England has once again held the base rate, and at the same time we’re seeing inflation proving stickier than many expected. So the obvious question is: What does this actually mean for the UK residential property market? Because headlines tend to simplify things. Rates up — bad. Rates down — good. But the reality is far more nuanced. And that nuance is where opportunity — and risk — ac...